Octavia Wealth Advisors LLC Sells 185 Shares of Abbott Laboratories (NYSE:ABT)

Octavia Wealth Advisors LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,606 shares of the healthcare product maker’s stock after selling 185 shares during the period. Octavia Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $408,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the third quarter worth $32,000. Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the third quarter worth $37,000. Finally, JDM Financial Group LLC grew its position in Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABT shares. Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $116.78 on Wednesday. The business’s 50 day simple moving average is $114.87 and its 200 day simple moving average is $112.95. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The stock has a market capitalization of $202.55 billion, a PE ratio of 35.50, a PEG ratio of 2.43 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.02%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.